CBA issues 100.000 Dram banknotes

August 24, 2009 - 18:37 AMT

PanARMENIAN.Net - On August 24, CBA board adopted a decision on introducing a new banknote with a nominal value of AMD 100.000, CBA board member Vakhtang Abbrahamyan told today a press conference in Yerevan. Such decision, he said, was made after studying many countries' experience aimed at facilitating transactions for big enterprises and promoting transactions in national currency.

Recent two years' studies, especially those in the sphere of 50.000 Dram banknotes, show there is high demand for new, 100.000 Dram banknotes. "CBA estimates 3% circulation for new banknote, and such rate is deemed quite satisfactory," CBA board member said, adding that new banknote's circulation will not contribute to the growth of inflation.

Referring to the history of creating the banknote, CBA expert Gevorg Nubaryan said it was related to the ideology of disseminating Christianity in Armenia. The new banknote depicts King Abgar V, the first Armenian king to adopt Christianity. The front of the banknote depicts him pointing at a canvas of the royal flag with a lively portrait of Jesus Christ. The reverse of the banknote depicts disciple Thaddeus handing the canvas to King Abgar V and his consequent miraculous healing.